April 16, 2021
Downward revision of GDP growth by economists adds to market jitters
After a volatile session, markets are likely to see positive beginning, thanks to global cues. The SGX Nifty at 14,630 (8 am IST) indicates a gap-up opening of about 40 points for the Nifty. However, most Asian markets are ruling mixed with little change, though the US market ended at a record high overnight. The Dow closed at over 34,000 — at 34,036 — while the S&P 500 and tech-heavy Nasdaq jumped over 1 per cent each.
Rising number of Covid-19 cases and harsher restrictions across various States spoiled the sentiments. Analysts expect the market to be cautious going forward as already economists are revising down India’s economic growth.